Recently a prospective vendor asked how big a client’s database was, to decide whether to advertise with us. “What other metrics do they want?” I asked. None, I was told.
Anyone can build a big database–really big–filled with garbage names, inactive records, known bad addresses, lists culled from questionable sources. However, I highly doubt that a database filled with those lists is going to get any client worthwhile introductions or engagement. Or any follow up advertising from that vendor.
I have shared many posts on building a successful database, such as What is YOUR Database STRATEGY?, Spring Cleaning Your …. Data, and 5 Low-Cost Ideas to Improve Email Response Rates. Now.
For advertisers evaluating a database, I think there are better questions a prospect can ask to gauge whether a database is healthy and a viable fit for them. Some of them include (in no particular order):
- How many active users (prospects/customers) have you added to your database in the last year?
- How many people in my specific target area do you have on your database? Can you show me any demographic profiles?
- What percentage of your database has demographics?
- How are you building brand engagement?
- What is the average open rate on your emails/enewsletters/etc?
- If you own multiple, similar brands I want to advertise with, what is the overlap on their distribution?
- If considering hosting a webinar, what is the average attendee vs. sign up ratio? How long does the average attendee participate in the webinar?
- How do you actively try to re-engage older customers on your database?
Every database will have strengths and shortfalls. I tell my clients that we should promote our positive points upfront. By providing snippets of data, it may eliminate questions that emphasize weaknesses. Obviously, the success an advertiser sees in their marketing programs will truly show them the effectiveness of our database and their investment.
The journey continues. Cindy